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Distributive Concerns in the Bankruptcy Problem with an Endogenous Estate [PDF]

open access: yes
We compare certain bankruptcy rules in a bankruptcy model with an endogenous estate on the basis of normative criteria. In particular, five properties related to distributive concerns are analyzed: minimal rights first, securement of initial investments,
Karagozoglu, Emin
core   +1 more source

A Noncooperative Approach to Bankruptcy Problems with an Endogenous Estate [PDF]

open access: yes
We introduce a new class of bankruptcy problems in which the value of the estate is endogenous and depends on agents'' investment decisions. There are two investment alternatives: investing in a company and becoming a shareholder (risky asset) and ...
Karagözoğlu Emin
core   +1 more source

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